Arrow Cargo ceases all operations

Arrow Cargo (3rd) (Miami) operated its last cargo flight last night. There are no flights scheduled for today and the fleet is sitting at Miami. This version of Arrow commenced operations on May 9, 2002.

The company issued the following press release:

Arrow Air Holdings Corp. (“Arrow”) today (June 30) announced the company will cease scheduled service operations, effective immediately. Arrow issued the following
statement:

“Like many companies in our industry, Arrow Air has experienced significant operating losses as a result of increasing operating costs and declining revenues. The decision to wind down the company’s schedule service operations was a difficult one. This decision
was not made lightly, and was a last resort after the company exhaustively searched for other options including financing or a sale of the business. Arrow is now focused on helping to smooth the transition for the company’s hard working, dedicated employees
as well as its customers, suppliers and other stakeholders.”

Arrow Air Holdings Corporation, operating under the trade name of Arrow Cargo, is a U.S. certificated all cargo air carrier operating out of Miami International Airport.